In my experience as a contractor, the payment period is usually in the contract. The terms I've seen the most are 30 days and my current contract is 35 days.
No amount of reducing friction will reduce that payment period. I know of one contractor who negotiated a higher rate by increasing the period. Companies typically run long invoice cycles, and you don't stand a chance of changing that to anything shorter usually.
That's a fair point. It's going to be tough to change those types of companies because they tend to have people that manage and optimize cash flow (i.e. pay bills on the last day possible without incurring penalties).
From our experience with small businesses Intuit (the Tiempo team is all former Intuit employees), we know there's a large swath of companies that aren't as complicated or as rigorous. For those companies, just getting the bill taken care of and out of the way is a benefit. Those are the companies we'll focus on first.
No amount of reducing friction will reduce that payment period. I know of one contractor who negotiated a higher rate by increasing the period. Companies typically run long invoice cycles, and you don't stand a chance of changing that to anything shorter usually.